were paid in Liberty Bonds; the dividend rate on the present outstanding stock was established by the declaration of 1Y4%, payable April 14, 1923, at which time there was also paid an extra dividend of 19, payable in Liberty Bonds. An annual rate of 99, was set up for the new capitalization by the payment of a quarterly dividend of 214%, in July,1923. Jan., 1924, annual rate was raised to 109, by payment of a quarterly dividend of 2149. In July, 1910, there was paid a special dividend of 509 in 69; debenture bonds, amounting to $6,114,900; registered as to principal and interest; dated July 1, 1910; due March 1, 1927; tax free; interest checks payable on the 15th of Jan., April, July and October. {Bonds all retired January 1, 1917). In December, 1922, a corporation named Ohio Fuel Gas Co. was organized to take over all the gas properties in Ohio. It was capitalized at $25,000,000, all of which capital is owned and held by the Ohio Fuel Supply Co. The Ohio Fuel Supply Co., also owns the Northwestern Ohio Nat. Gas Co., and the Pt. Pleasant Nat. Gas Co. Company also owns 499%, of the United Fuel Gas Co., which operates in W. Va., the other 51%, being owned by the Columbia Gas and Electric Co. Officers and directors of the company follow: Officers, Pres’t., George W. Crawford; Vice-Prest’s., F. W. Crawford, L. B. Denning, J. M.. Garard; Treas. and Sec’y., J. B. Wikoff; Ass’t Secy’s and Ass’t Treasurers, F. I. Falk and P. A. Balliet. Directors, M. C. Treat, George W. Crawford, F.W. Crawford, J. M. Garard, J. W. McMahon, H. H. Dreibelbis, W. H. Thompson, L. B. Denning, J. B. Crawford, I.. E. Mallory. UNION NATURAL GAS CORPORATION The Union Natural Gas Corporation, with offices in the Union Bank Building, Pittsburgh, was incorporated under the laws of Delaware, May 24, 1902. Its authorized capital stock is $20,000,000. Of this $17,220,000 is outstanding at present. The corporation was formed with-an authorized capital of $6,000,000, and acquired all of the stock of the